Assocham

State-led reforms, digitised clearances key for MSME growth: Assocham

Industry body Assocham recommends single-window clearances, graded penalties, and simplified filings to reduce red tape and empower MSMEs across states

Assocham for easing direct tax measures to spur investor confidence

Chamber urges fiscal clarity for global data players, IBC loan waiver relief, and revival of the 15 per cent corporate tax rate to attract new investments

India should have policy stability on edible oil import tariffs, says paper

The research used import duties on palm oil as the reference point, as it constitutes almost 60 per cent of India's annual edible oil imports

Assocham urges RBI to hold rates, advises 'wait and watch' approach

Assocham president Sanjay Nayar emphasised that the RBI has already injected liquidity into the market through various measures

Ficci, Assocham demand input tax credit for real estate under CGST

Industry bodies FICCI and Assocham have demanded that real estate developers should be allowed to claim Input Tax Credit (ITC) under the Central Goods and Services Act (CGST) on commercial assets constructed for leasing purposes. The associations have written letters to the finance ministry and have urged the latter to permit availing of the ITC where the immovable property is constructed for the provision of leasing services. They have argued that the potential revenue impact would not be high by allowing ITC and instead, this would help maintain the credit chain, besides spurring growth in the real estate sector and the overall economy. The representations come in the backdrop of a recent Budget proposal relating to a retrospective amendment to the CGST law, which experts feel will override the Supreme Court ruling related to the ITC claim on leased assets. Market consultants are of the view that this move is likely to adversely impact real estate companies seeking input tax cred

Budget 2025 announcements 'bold', will boost consumption: Assocham

Finance Minister Nirmala Sitharaman has presented a bold budget which will boost consumption, particularly by the middle class. 'The finance minister has placed her confidence in the middle class for leading the consumption-led growth. At the same time, there is a clear focus on unleashing the potential of the MSMEs, Startups and exports," Assocham President Sanjay Nayar said on the the Union Budget for 2025-26. Union Finance Minister Nirmala Sitharaman tabled the Union Budget in the Lok Sabha on Saturday. It is a 'bold' budget to boost consumption particularly from the vibrant middle-class families, Nayar said. He said pick up in consumption demand would, in turn, encourage investment as well in the medium term while several employment-oriented sectors such as tourism, textile, handicrafts, footwear and toys have been given an immediate impetus for take-off. Ajay Singh, the Past President of Assocham said the Budget is "middle class-friendly" and will boost public spending settin

Eliminate coal cess to support power-intensive industries: Assocham

Industry body Assocham has pitched for the removal of coal cess stating that the move will support power-intensive industries like aluminium and maintain competitiveness of the domestic industry. In its pre-budget memorandum 2025-26, the industry body said that "high cess on coal (Rs 400 per MT)...be eliminated to support power-intensive industries." Finance Minister Nirmala Sitharaman is likely to present the Union Budget 2025 on February 1, 2025. The cess was introduced as Clean Energy Cess in 2010 with a levy of Rs 50 per metric tonne on coal. It has been increased over the years from Rs 50 per metric tonne to Rs 100 per metric tonne in 2014-15, Rs 200 per metric tonne in 2015-16, and Rs 400 per metric tonne in the Union Budget 2016-17, it said. The hike in coal cess has increased the production cost of aluminium many times, Assocham said. It further said that the steep hike in coal cess has adversely impacted the sustainability of the aluminium industry being a highly ...

Low salaries can be self-destructive for India Inc, says CEA Nageswaran

Deregulation to be big theme of Eco Survey

Ancient knowledge can be guiding light towards developed nation: Assocham

India's ancient knowledge and philosophy can be the guiding light towards a developed nation, industry body Assocham Secretary General Deepak Sood has said. Speaking at the special launch event of a book on Prime Minister Narendra Modi late on Friday evening, he said the growth and advances that India has witnessed in recent years are an outcome of the leadership the country has, and this book has shown us how much progress we have made towards our goal. "We are blessed with ancient knowledge and philosophy that can be our guiding light towards a developed nation," he noted. Authored by former Rhodes Professor at Cornell University, US, and currently a member-HR at the Capacity Building Commission, R Balasubramaniam, the book titled 'Power Within: The Leadership Legacy of Prime Minister Narendra Modi', captures the civilisational wisdom of Bharat. It also explores how Modi's remarkable vision to expedite progress, as well as indigenous knowledge and ancient wisdom, has shaped globa

Budget focuses on job creation by giving push to manufacturing: Nayar

There's an earnest attempt to address issues of MSMEs, said Nayar

EY-Assocham report advocates raising e-commerce export ceiling to $50,000

The report said to enhance global competitiveness of exporters and offset the cost disabilities, govt should introduce a special credit package with fiscal incentives for the e-commerce export sector

New govt expected to 'push the accelerator' on reforms: Assocham President

Nayar also pointed out that it is necessary for investment growth to propel the supply side in order to get a balance "between cyclical consumption-driven growth and inflation."

Green shoots in private capex are visible: Assocham President Sanjay Nayar

Nayar talks about Assocham's priorities, pick up in private capex and the startup ecosystem

SC refuses to entertain submissions of Assocham on electoral bonds details

Not ordering disclosure of details of electoral bonds prior to April 12, 2019 was a "conscious choice" by the Constitution bench, the Supreme Court said on Monday while refusing to entertain the submissions of ASSOCHAM and CII against the disclosure of bond details on the ground of their plea not being listed. A five-judge Constitution bench headed by Chief Justice D Y Chandrachud referred to the April 2019 interim order passed by the apex court in the case. On April 12, 2019, the top court had issued an interim order directing that the information about the donations received and donations which will be received must be submitted by political parties to the EC in a sealed cover. On Monday, the bench refused a hearing on unlisted pleas of industry bodies, Associated Chambers of Commerce & Industry of India (ASSOCHAM) and Confederation of Indian Industry (CII) against the disclosure of bond details. When senior advocate Mukul Rohatgi, appearing for ASSOCHAM and CII, referred to the

Industry bodies ask SC to defer release of electoral bond numbers

The apex court said that the industry bodies could not be given any precedence over other applicants and their plea was not listed for the hearing

Interim Budget 2024 focuses on $5 trillion economy target: Assocham

The interim budget focuses on the government's objective of making India a USD 5 trillion economy and a developed nation by 2047, Assocham President Ajay Singh said on Thursday. Finance Minister Nirmala Sitharaman presented her sixth Budget on Thursday in which she announced a Rs 11.11 lakh crore spending on infrastructure among other proposals. "It is an India-first budget. A confident budget of a confident government that focuses on the objective of ensuring that India becomes a 5 trillion-dollar economy by 2025 and a developed nation by 2047," Singh told PTI in a post-budget interaction. Speaking further, he said the government has focused on infrastructure, startups, and rail corridors in the Budget. The Finance Minister also announced a Rs 1 lakh crore fund for research and development and the startup sector which is a very significant move. There is no question that the Budget will have a significant impact on the common man, Singh, who is also the CMD of airline company ...

Assocham appeals to Centre to focus on spiritual tourism in Budget

The Budget session of Parliament, the last session before the general elections expected in April-May, will begin on January 31 and is likely to continue till February 9

India likely to remain fastest growing major economy in 2024: Assocham

India is likely to remain the fastest-growing major economy in the world in 2024 on the back of strong consumer demand leading to a pick up in investment across sectors such as construction, hospitality and infrastructure including railways and aviation, Assocham said on Thursday. India retained the tag of the world's fastest-growing major economy, with its GDP expanding by a faster-than-expected rate of 7.6 per cent in the July-September quarter on booster shots from government spending and manufacturing. The country's Gross domestic product (GDP) growth of 7.6 per cent beat most estimates, including 6.5 per cent projected by the Reserve Bank of India (RBI). The growth compares to 6.2 per cent in the same quarter last year and 7.8 per cent expansion in the preceding quarter, official data released on Thursday showed. India's GDP growth beat China's 4.9 per cent rise in July-September, while the Western economies are getting crushed under high-interest rates and energy ...

Why can't India be an arbitration hub: Law minister Arjun Ram Meghwal

Meghwal said the BJP government has passed the Mediation Bill recently

IBBI addresses CIRP delays, proposes reforms to streamline process

To address these concerns, the IBBI recently proposed four changes to CIRP regulations aimed at reducing delays, as outlined in a consultation paper